An AI-Powered Surgery Startup Raises $180 Million

for a Customer Growth Plan

 

 

Caresyntax’s funding round comes after the company’s first half of the year revenue increased by a reported 75%.

Caresyntax, an AI-powered platform for precision surgery, has secured $180 million in a series C extension and growth loan expansion financing deal.

The funding, according to the business, will be used to expand client adoption and carry on building edge-to-cloud and AI applications.
Among these are an AI platform and end-to-end medical-grade software that facilitate the collection and utilization of new data and applications to improve patient safety and surgical accuracy.

Large amounts of video, audio, and image data, device data, clinical and operational data, and device data are all collected, integrated, and analyzed by the application by combining AI-powered software, devices, and healthcare services.

Caregivers can use the platform to access both short-term and long-term clinical decision support. This support can be used both inside the operating room during procedures and outside of it through telehealth and dedicated cloud links.

The company claims that major data gaps and fragmentation issues impede the advancement of precision and data-assisted surgery, and the vendor-neutral platform seeks to solve these issues.

Following a $130 million series C fundraising round in 2021, Caresyntax has extended its services and product offerings and penetrated new markets. For instance, it offers automation and data insights to insurance companies, hospitals, and manufacturers of medical devices. According to the company, it now provides services to more than 30,000 surgeons worldwide.

With this new round of investment, which includes up to $100 million in expansion lending facility and $80 million in equity, the company will be able to pursue its growth strategy and proceed with its M&A plan to acquire several US surgical data and technology assets.

Dennis Kogan, Co-Founder and CEO of Caresyntax said the financing is not just an investment in the company, but in the future of surgery.
“My gratitude extends to our investors who contribute to and believe in the power of smart data and AI usage in the operating room,” he said.

Katrin Vatiska, investment partner at MTIP said of the firm’s investment: “What drew us to Caresyntax was not only their stronghold in a rapidly expanding sector but also their unique platform approach, seamlessly integrating workflow software and data-driven solutions.”